Financial news

Gold quotations increase at precious metals market

As of 24 January situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $890,00-$895,00 per ounce. While opening New-York commodity exchange gold again was at the mark in $900,00 and was fixed at the mark in $905,00-$907,00 per ounce.

Gold futures 23 January decreased against background of cancellation of long gold positions by some of players to cover damages, received at other markets. By bids closure on NYMEX in section COMEX February contract on gold became cheaper on $7,2, by $883,1 per ounce, having renewed from interday minimum $877,00 per ounce.

22 January gold prices increased on $8,6, by $890,3 per ounce, having got impulse to increase after publication of FRS decision about extra decrease of interest rate. However we can see already today that the same situation is repeated with mark $900,00 being attained for the second time this month. In accordance with forecasts gold can decrease by the level in $875,00, however its increase is inevitable.
London morning fixing constituted $891,50 per ounce, when rate of National Bank of Ukraine was fixed on $887,80.

Comments of Roman VALESYUK, Senior Vice-Chairman, of the Board of PRAVEX-BANK on precious metals market. 24 January 2008.

[You can subscribe for Banks news.]